Bioretec Ltd's business review Q1 2026: Early Traction from Renewed Strategy

Bioretec Ltd. | Company announcement | 15 May 2026 at 9:00 a.m.

This announcement summarizes Bioretec Ltd's business review for January-March 2026. The complete business review is attached to this release as a PDF file and available on the company's website at https://investors.bioretec.com/en/reports_and_presentations.

January–March 2026 in brief

• Net sales amounted to EUR 1,220 thousand (1–3/2025: EUR 1,396 thousand)
• Adjusted sales margin was 70.1% (56.7%) of net sales. From Q1/2026, the company will transition to reporting adjusted sales margin to be aligned with industry reporting standards. Adjusted sales margin comprises the net sales of implants deducted by related cost of sales and extraordinary expenses.  
• EBITDA was EUR -1,375 (-1,236) thousand
• The result for the reporting period amounted to EUR -1,371 (-1,298) thousand
• On March 27, Bioretec announced that the Board of Directors has resolved on a rights issue
• The rights issue was completed after the end of the reporting period. The final results of the rights issue show that a total of 1,286,801,534 new shares were subscribed for in the offering, corresponding to approximately 87.1 per cent of the 1,477,828,416 new shares offered in the offering. The subscription price in the offering was EUR 0.01 per new share. Bioretec receives gross proceeds of approximately EUR 12.9 million from the offering.

Key figures 

¹ From Q1/2026, the company will transition to reporting adjusted sales margin to be aligned with industry reporting standards. The adjusted sales margin describes the profitability of implant sales before commercialization-related expenses, such as sales commissions. Adjusted sales margin comprises the net sales of implants deducted by related cost of sales and extraordinary expenses. Items recognized below the adjusted sales margin will include, among others, commissions and external services considered fixed in nature.

Net sales by geographical area 

CEO Sarah van Hellenberg Hubar-Fisher’s comments

Early traction from renewed strategy

The first quarter of 2026 reflects intentional direction and early traction from the operational and commercial reset initiated in the second half of 2025. Net sales reached EUR 1.2 million, with growth in both the U.S. and Europe reaching 449% and 203.3% respectively for the year-over-year comparison period. This growth is not only volume-driven but structurally healthier: revenue is now supported by a broader mix of customers and distribution partners across key markets. Adjustments to gross margins were made in an effort to align our financial reporting more closely with that of our industry peers, an initiative we identified in 2025 and implemented at the start of this financial year. 

During the quarter, we activated new distribution channels in the U.S. and internationally while expanding our direct customer base. This reduces concentration risk and improves the quality and resilience of our revenue as we scale. The focus is clear – build a commercially robust business in high-value markets with repeatable demand drivers.

Our strategy for 2026–2028 prioritizes disciplined execution, capital efficiency, and continued innovation through the expansion of the RemeOs™ platform. The first quarter of 2026 already provided clear signals that the updated strategy is translating into measurable results. The commercial investments made in late 2025, particularly in leadership and capability building, are accelerating our momentum both in the U.S. and Europe.

We have continued to strengthen our market presence and visibility, particularly in the United States. During the quarter, we further established our Key Opinion Leader (KOL) program, including hosting our first KOL roundtable in January and launching a series of monthly surgeon-led webinars. In addition, we presented at several important industry events, including the AOFAS winter meeting, the ACFAS annual scientific conference, the Canaccord Genuity Musculoskeletal Conference and the AAOS Annual Meeting in New Orleans in March. These activities enhance our engagement with clinical and economic stakeholders and support broader awareness of our technology in the world’s largest medtech market.

Looking ahead, we remain focused on driving commercial growth, advancing launch readiness for our near-term pipeline, and driving operational excellence. Advancing production capabilities and process discipline is a priority to ensure that growth is supported by reliable and efficient delivery.

Successful rights issue supports the next phase of targeted growth

After the reporting period, we successfully completed a rights issue. This strengthens our financial position and provides additional resourcing required to execute the next phase of our targeted growth. Specifically, it allows us to progress the execution of our strategy with a focus on the near-term pipeline, U.S. commercial organization and operational scale. We are greatly encouraged by the outcome of the rights issue and grateful for the continued commitment from our shareholders.

We carry this momentum into 2026 with a strengthened financial base, clear operational priorities, and an organizational focus with an emphasis on execution.

Significant events in January–March 2026

• On January 15, Bioretec announced the appointment of Tuukka Paavola as Chief Financial Officer and part of the management team.
• On February 13, Bioretec announced that its Board of Directors is assessing a potential rights issue in the near future.
• On March 10, Bioretec announced that it is planning a rights issue of at least EUR 5 million and up to EUR 15 million with a maximum of 1,500,000,000 new shares.
• On March 10, Bioretec issued a notice of an Extraordinary General Meeting to be held on March 27, 2026.
• On March 12, Bioretec announced that Chief Technology Officer Timo Lehtonen will transition to the role of External Executive Advisor (Technology & Strategy) and step down from the management team and CTO role as of July 6, 2026. Bioretec is establishing two new dedicated roles to cover the day-to-day operational needs in both product development and clinical affairs, and recruitment efforts are already underway.
• On March 26, Bioretec announced that The Finnish Financial Supervisory Authority has granted Stephen Industries Inc Oy and Kustaa Poutiainen a permanent exemption from the obligation to launch a mandatory public takeover bid relating to the upcoming rights issue.
• On March 27, Bioretec announced the resolutions of the Extraordinary General Meeting and that the Board of Directors has resolved on a rights issue of up to approximately EUR 14.8 million. 

Significant events after the reporting period

• On April 2, Bioretec published an exemption document relating to its rights issue.
• On April 20, Bioretec published the notice to the Annual General Meeting to be held on May 8, 2026.
• On April 23 and April 24, Bioretec published the preliminary and final results of the rights issue, respectively. The final results of the rights issue show that a total of 1,286,801,534 new shares were subscribed for in the offering, corresponding to approximately 87.1 per cent of the 1,477,828,416 new shares offered in the offering. The subscription price in the offering was EUR 0.01 per new share. Bioretec receives gross proceeds of approximately EUR 12.9 million from the offering.
• On April 28, Bioretec announced that 1,286,801,534 new shares subscribed for in the rights issue and 24,196,337 new shares issued to Stephen Industries Inc Oy as underwriting fee pursuant to the underwriting commitment have been registered with the trade register maintained by the Finnish Patent and Registration Office. In addition, Bioretec announced that it adjusts the terms and conditions of its stock option programs due to the completed rights issue.
• On May 8, Bioretec announced the resolutions of the Annual General Meeting and the constitutive meeting of the Board of Directors held on the same date.
• On May 13, Bioretec announced that it clarifies its 2026–2028 financial target regarding the sales margin to concern the adjusted sales margin.

Financial reporting in 2026

In 2026, Bioretec will publish the following financial reports:

• Half-year report for January–June 2026 on Thursday, August 13, 2026
• Business review for January–September 2026 on Thursday, November 12, 2026

The releases will be published as company releases and will be available online on Bioretec’s website at https://investors.bioretec.com/en/reports_and_presentations.

Tampere, May 15, 2026

Board of Directors

Bioretec Ltd.

For additional information:

Sarah van Hellenberg Hubar-Fisher
CEO
+31 6 1544 8736
sarah.hubar-fisher@bioretec.com

Tuukka Paavola
CFO
+358 50 386 0013
tuukka.paavola@bioretec.com
 

Certified Adviser

Nordic Certified Adviser AB, +46 70 551 67 29

Information about Bioretec

Bioretec is a globally operating Finnish medical device pioneer at the forefront of transforming orthopedic care with fully biodegradable implant technologies. The company has built unique competencies in the biological interface of active implants to enhance bone growth and accelerate fracture healing after orthopedic surgery. The products developed and manufactured by Bioretec are used worldwide in approximately 40 countries.  

The company’s latest innovation, the RemeOs™ product line, is based on a high-performance magnesium alloy and hybrid composite, introducing a new generation of strong absorbable materials for enhanced surgical outcomes. The RemeOs implants are absorbed and replaced by bone, which eliminates the need for removal surgery while facilitating fracture healing. The first RemeOs product market authorization was received in the U.S. in March 2023, and in Europe, the CE mark approval was received in January 2025.

Bioretec’s Activa product line features fully bioabsorbable orthopedic implants made from a proprietary, self-reinforced PLGA both CE marked and FDA cleared for a wide range of indications in adult and pediatric patients.

Bioretec is shaping the future of orthopedic treatment with a focus on healing through absorption, paving the way for more effective and patient-friendly solutions.

To learn more about Bioretec, visit www.bioretec.com  

wkr0006.pdf

Bioretec clarifies its 2026–2028 financial target regarding the sales margin

Bioretec Ltd  Company release 13 May 2026 at 14:00 p.m. EEST

Bioretec clarifies its 2026–2028 financial target regarding the sales margin

To be aligned with industry reporting standards, Bioretec will transition to reporting an adjusted sales margin from Q1/2026 onwards, as compared to the previously reported sales margin. The adjusted sales margin describes the profitability of implant sales before commercialization-related expenses, such as sales commissions. This change improves the transparency of Bioretec's performance in its core business and ensures alignment with industry practices.

The calculation formula of the previously reported sales margin was total net sales (including implants and instruments) less the change in inventories and materials and services. Going forward, the net sales component will only include the net sales from implants, and items recognised below the adjusted sales margin will include, among others, commissions and external services considered fixed in nature.

In line with the reporting change, the second financial target for the strategy period 2026-2028 will be updated to concern the adjusted sales margin instead of the previously reported sales margin.

Bioretec's updated financial targets for the strategy period 2026–2028 are:

• Reach net sales exceeding EUR 10 million by the end of the year 2028
• Maintain an average adjusted sales margin exceeding 70% during the strategy period

The targets previously announced on 16 December 2025 for the 2026–2028 strategy period were:

• Reach net sales exceeding EUR 10 million by the end of the year 2028
• Maintain an average sales margin exceeding 70% during the strategy period

Further enquiries

Tuukka Paavola, CFO, +358 50 386 0013

Certified adviser

Nordic Certified Adviser AB, +46 70 551 67 29

Information about Bioretec

Bioretec is a globally operating Finnish medical device pioneer at the forefront of transforming orthopedic care with fully biodegradable implant technologies. The company has built unique competencies in the biological interface of active implants to enhance bone growth and accelerate fracture healing after orthopedic surgery. The products developed and manufactured by Bioretec are used worldwide in approximately 40 countries.

The company's latest innovation, the RemeOs™ product line, is based on a high-performance magnesium alloy and hybrid composite, introducing a new generation of strong absorbable materials for enhanced surgical outcomes. The RemeOs implants are absorbed and replaced by bone, which eliminates the need for removal surgery while facilitating fracture healing. The first RemeOs product market authorization was received in the U.S. in March 2023, and in Europe, the CE mark approval was received in January 2025.

Bioretec's Activa product line features fully bioabsorbable orthopedic implants made from a proprietary, self-reinforced PLGA both CE marked and FDA cleared for a wide range of indications in adult and pediatric patients.

Bioretec is shaping the future of orthopedic treatment with a focus on healing through absorption, paving the way for more effective and patient-friendly solutions.

To learn more about Bioretec, visit www.bioretec.com

Bioretec Ltd's resolutions of the constitutive meeting of the Board of Directors

Bioretec Ltd  Company release 8 May 2026 at 20:40 p.m. EEST

Bioretec Ltd's resolutions of the constitutive meeting of the Board of Directors

At its constitutive meeting held after the Annual General Meeting, the Board of Directors of Bioretec Ltd elected Kustaa Poutiainen as the Chairperson of the Board and David Gill as the Deputy Chairperson.

The members of the committees were elected as follows:

Audit Committee: Päivi Malinen (Chairperson), Michael Piccirillo and David Gill.

Remuneration Committee: Justin Barad (Chairperson), Antti Vasara and Michael Piccirillo.

The Board of Directors assessed the independence of its members in accordance with the Finnish Corporate Governance Code for listed companies. The Board concluded that the members of the Board are independent of Bioretec and its significant shareholders, except for Kustaa Poutiainen, who is assessed to be independent of the company but not of its significant shareholder, Stephen Industries Inc Oy, due to his role as chairperson of the board of Stephen Industries Inc Oy.

Further enquiries

Sarah van Hellenberg Hubar-Fisher, CEO, +31 6 1544 8736

Tuukka Paavola, CFO, +358 50 386 0013

Certified adviser

Nordic Certified Adviser AB, +46 70 551 67 29

Information about Bioretec

Bioretec is a globally operating Finnish medical device pioneer at the forefront of transforming orthopedic care with fully biodegradable implant technologies. The company has built unique competencies in the biological interface of active implants to enhance bone growth and accelerate fracture healing after orthopedic surgery. The products developed and manufactured by Bioretec are used worldwide in approximately 40 countries.

The company's latest innovation, the RemeOs™ product line, is based on a high-performance magnesium alloy and hybrid composite, introducing a new generation of strong absorbable materials for enhanced surgical outcomes. The RemeOs implants are absorbed and replaced by bone, which eliminates the need for removal surgery while facilitating fracture healing. The first RemeOs product market authorization was received in the U.S. in March 2023, and in Europe, the CE mark approval was received in January 2025.

Bioretec's Activa product line features fully bioabsorbable orthopedic implants made from a proprietary, self-reinforced PLGA both CE marked and FDA cleared for a wide range of indications in adult and pediatric patients.

Bioretec is shaping the future of orthopedic treatment with a focus on healing through absorption, paving the way for more effective and patient-friendly solutions.

To learn more about Bioretec, visit www.bioretec.com

Bioretec Ltd's resolutions of the Annual General Meeting

Bioretec Ltd  Company release 8 May 2026 at 14:45 p.m. EEST

Bioretec Ltd's resolutions of the Annual General Meeting

Bioretec Ltd's Annual General Meeting was held on Friday 8 May 2026 as a hybrid meeting in accordance with Chapter 5, Section 16, Subsection 2 of the Finnish Companies Act.

The Annual General Meeting approved the financial statements for the financial year 1 January–31 December 2025 and resolved to discharge the members of the Board of Directors and the CEOs from liability for the financial period 1 January–31 December 2025.

The Annual General Meeting resolved in accordance with the proposal of the Board of Directors that the loss of EUR 7,873,906.59 for the financial period 1 January–31 December 2025 will be credited in the equity as Profit/loss for previous financial periods and that no dividend shall be distributed. 

Number of members of the Board of Directors, election of members of the Board and their remuneration

The Annual General Meeting resolved that the number of members of the Board of Directors will be six (6). Michael Piccirillo, Päivi Malinen, Kustaa Poutiainen, Antti Vasara and Justin Barad were re-elected as members of the Board. David Gill was elected as a new member of the Board of Directors. The term of the Board of Directors will end at the conclusion of the Annual General Meeting 2027.

The Annual General Meeting resolved that the Chairperson of the Board will be paid EUR 3,750 per month and the Deputy Chairperson EUR 2,500 per month. Members of the Board will be paid EUR 2,000 per month. 

Reasonable travel expenses of the members of the Board of Directors will be reimbursed in accordance with the maximum amount of the respective travel allowance base approved by the Tax Administration. 

Election and remuneration of auditor

The Annual General Meeting elected audit firm PricewaterhouseCoopers Oy as the auditor of the company until the closing of the 2027 Annual General Meeting. Audit firm PricewaterhouseCoopers Oy has notified the company that it will appoint Kalle Laaksonen, Authorized Public Accountant, as the responsible auditor. The auditor will be compensated as reasonably invoiced.

Amendment of the Articles of Association

The Annual General Meeting resolved to amend and clarify Article 9 of the Articles of Association by removing the reference to deputy auditor. Pursuant to Article 7 of the Articles of Association, the company's auditor must be an auditing firm approved by the Finnish Patent and Registration Office, in which case a deputy auditor is not required to be elected under Chapter 2, Section 3 of the Finnish Auditing Act.

After the amendment, Article 9 will read as follows:

"9 § Annual General Meeting

 The Annual General Meeting must be held each year on a day specified by the Board of Directors, which shall be within six (6) months of the close of the financial period.

At the General Meeting, the following must be:

 presented: 

1. the financial statements, which shall include the income statement, the balance sheet and the report of Board of Directors;
2. the auditor's report; 

decided: 

3. the adoption of the income statement and the balance sheet;
4. measures called for by the profit or loss reported in the approved balance sheet;
5. the discharge from liability of the members and deputy members of the Board of Directors and the Chief Executive Officer;
6. the remuneration of members of the Board of Directors and the auditor;
7. the number of members of the Board of Directors;

elected:

8. the members of the Board of Directors; and
9. the auditor."

In addition, the Annual General Meeting resolved to amend Article 10 of the Articles of Association to allow the company to hold general meetings also in Helsinki.

After the amendment, Article 10 will read as follows:

"10 § Organization of the General Meeting 

General Meetings are held at the company's domicile or in Helsinki. 

The Board of Directors may decide that a shareholder may also participate in the General Meeting by fully exercising their right to vote during the meeting by means of a telecommunication connection and a technical aid (hybrid meeting).

The Board of Directors may also decide that the General Meeting shall be held without a meeting place in such a way that the shareholders exercise their voting rights fully and in a timely manner during the meeting by means of a telecommunication connection and a technical aid (remote meeting)."

General Meeting minutes

The minutes of the General Meeting will be made available on the Company's website at https://investors.bioretec.com/en/corporate_governance/annual_general_meeting_2026 by 22 May 2026 at the latest.

Further enquiries

Sarah van Hellenberg Hubar-Fisher, CEO, +31 6 1544 8736

Tuukka Paavola, CFO, +358 50 386 0013

Certified adviser

Nordic Certified Adviser AB, +46 70 551 67 29

Information about Bioretec

Bioretec is a globally operating Finnish medical device pioneer at the forefront of transforming orthopedic care with fully biodegradable implant technologies. The company has built unique competencies in the biological interface of active implants to enhance bone growth and accelerate fracture healing after orthopedic surgery. The products developed and manufactured by Bioretec are used worldwide in approximately 40 countries.

The company's latest innovation, the RemeOs™ product line, is based on a high-performance magnesium alloy and hybrid composite, introducing a new generation of strong absorbable materials for enhanced surgical outcomes. The RemeOs implants are absorbed and replaced by bone, which eliminates the need for removal surgery while facilitating fracture healing. The first RemeOs product market authorization was received in the U.S. in March 2023, and in Europe, the CE mark approval was received in January 2025.

Bioretec's Activa product line features fully bioabsorbable orthopedic implants made from a proprietary, self-reinforced PLGA both CE marked and FDA cleared for a wide range of indications in adult and pediatric patients.

Bioretec is shaping the future of orthopedic treatment with a focus on healing through absorption, paving the way for more effective and patient-friendly solutions.

To learn more about Bioretec, visit www.bioretec.com

Bioretec Ltd: Notification pursuant to Chapter 9, Section 10 of the Finnish Securities Markets Act (Sp-Rahastoyhtiö)

Bioretec Ltd  Company release 29 April 2026 at 16:40 p.m. EEST

Bioretec Ltd: Notification pursuant to Chapter 9, Section 10 of the Finnish Securities Markets Act (Sp-Rahastoyhtiö)

Bioretec Ltd ("Bioretec" or the "Company") has received on 29 April 2026 the following notification in accordance with Chapter 9, Section 5 of the Finnish Securities Markets Act from Sp-Rahastoyhtiö Oy. According to the notification, the holding of Säästöpankki Pienyhtiöt, an investment fund of Sp-Rahastoyhtiö, in Bioretec's shares and votes has exceeded 5 per cent on 29 April 2026.

The total number of shares and votes in Bioretec is 1,341,785,963.

Bioretec has one series of shares in which each share carries one vote.

The total holding of the notifier in Bioretec's shares and votes according to the notification:

Notified details of the resulting situation on the date on which the threshold was crossed or reached:

A: Shares and voting rights

Contacts

Sarah van Hellenberg Hubar-Fisher, CEO, +31 6 1544 8736

Tuukka Paavola, CFO, +358 50 386 0013

Information about Bioretec

Bioretec is a globally operating Finnish medical device pioneer at the forefront of transforming orthopedic care with fully biodegradable implant technologies. The company has built unique competencies in the biological interface of active implants to enhance bone growth and accelerate fracture healing after orthopedic surgery. The products developed and manufactured by Bioretec are used worldwide in approximately 40 countries.

The company's latest innovation, the RemeOs™ product line, is based on a high-performance magnesium alloy and hybrid composite, introducing a new generation of strong absorbable materials for enhanced surgical outcomes. The RemeOs implants are absorbed and replaced by bone, which eliminates the need for removal surgery while facilitating fracture healing. The first RemeOs product market authorization was received in the U.S. in March 2023, and in Europe, the CE mark approval was received in January 2025.

Bioretec's Activa product line features fully bioabsorbable orthopedic implants made from a proprietary, self-reinforced PLGA both CE marked and FDA cleared for a wide range of indications in adult and pediatric patients.

Bioretec is shaping the future of orthopedic treatment with a focus on healing through absorption, paving the way for more effective and patient-friendly solutions.

To learn more about Bioretec, visit www.bioretec.com

Bioretec Ltd – Manager’s transactions – Stephen Industries Inc Oy

Bioretec Ltd – Manager’s transactions – Stephen Industries Inc Oy

Bioretec Oy Company release 28 April 2026 at 16:55 p.m. EEST

Bioretec Oy - Managers' Transactions

____________________________________________

Person subject to the notification requirement

Name: Stephen Industries Inc Oy

Position: Closely associated person

(X) Legal person  (1):Person Discharging Managerial Responsibilities In Issuer

Name: Kustaa Poutiainen

Position: Member of the Board

Issuer: Bioretec Oy

LEI: 7437008736AG7HY51K13

Notification type: INITIAL NOTIFICATION

Reference number: 153706/4/4

____________________________________________

Transaction date: 2026-04-24

Outside a trading venue

Instrument type: SHARE

ISIN: FI4000480454

Nature of transaction: SUBSCRIPTION

Transaction details

(1): Volume: 322617824 Unit price: 0.01 EUR

(2): Volume: 24196337 Unit price: 0 EUR

Aggregated transactions (2):

Volume: 346814161 Volume weighted average price: 0.0093 EUR

Further enquiries

Tuukka Paavola, CFO, +358 50 386 0013

Certified adviser

Nordic Certified Adviser AB, +46 70 551 67 29

Information about Bioretec

Bioretec is a globally operating Finnish medical device pioneer at the forefront of transforming orthopedic care with fully biodegradable implant technologies. The company has built unique competencies in the biological interface of active implants to enhance bone growth and accelerate fracture healing after orthopedic surgery. The products developed and manufactured by Bioretec are used worldwide in approximately 40 countries.

The company's latest innovation, the RemeOs™ product line, is based on a high-performance magnesium alloy and hybrid composite, introducing a new generation of strong absorbable materials for enhanced surgical outcomes. The RemeOs implants are absorbed and replaced by bone, which eliminates the need for removal surgery while facilitating fracture healing. The first RemeOs product market authorization was received in the U.S. in March 2023, and in Europe, the CE mark approval was received in January 2025.

Bioretec's Activa product line features fully bioabsorbable orthopedic implants made from a proprietary, self-reinforced PLGA both CE marked and FDA cleared for a wide range of indications in adult and pediatric patients.

Bioretec is shaping the future of orthopedic treatment with a focus on healing through absorption, paving the way for more effective and patient-friendly solutions.

To learn more about Bioretec, visit www.bioretec.com

Bioretec Ltd: Notification pursuant to Chapter 9, Section 10 of the Finnish Securities Markets Act (Kustaa Poutiainen)

Bioretec Ltd  Company release 28 April 2026 at 15:55 p.m. EEST

Bioretec Ltd: Notification pursuant to Chapter 9, Section 10 of the Finnish Securities Markets Act (Kustaa Poutiainen)

Bioretec Ltd ("Bioretec" or the "Company") has received on 28 April 2026 the following notification in accordance with Chapter 9, Section 5 of the Finnish Securities Markets Act from Kustaa Poutiainen. According to the notification, the holding of Stephen Industries Inc Oy, an entity controlled by Kustaa Poutiainen, in Bioretec's shares and votes has exceeded 30 per cent on 28 April 2026.

The notification relates to the exceeding of the flagging threshold as a result of the rights issue carried out by the Company (the "Offering"). The notification relates to the subscription commitment (the "Subscription Commitment") and the underwriting commitment (the "Underwriting Commitment") given by Stephen Industries Inc Oy to the Company. In addition, Stephen Industries Inc Oy has been paid a fee pursuant to the Underwriting Commitment in the form of new shares in the Company in connection with the completion of the Offering (the "Fee Shares"). As announced by the Company on 24 April 2026, the Board of Directors of Bioretec resolved on 24 April 2026 on the issue of 24,196,337 Fee Shares to Stephen Industries Inc Oy without consideration, in accordance with the Underwriting Commitment.

As a result of the Subscription Commitment, the Underwriting Commitment and the Fee Shares, the number of shares and votes held by Stephen Industries Inc Oy in the Company has increased to 527,891,799, corresponding to approximately 39.34 per cent of all the shares and votes in the Company. The holding of Stephen Industries Inc Oy in Bioretec's shares and votes has thus exceeded the flagging threshold of 30 per cent. As announced by the Company on 26 March 2026, the Finnish Financial Supervisory Authority has, subject to certain conditions, granted a permanent exemption from the obligation to launch a mandatory public takeover bid to Stephen Industries Inc Oy and Kustaa Poutiainen, even if the voting percentage in the Company of Stephen Industries Inc Oy, and indirectly Kustaa Poutiainen, were to exceed the 30 or the 50 per cent threshold for the obligation to launch a mandatory public takeover bid as a result of the Offering. Exceeding the 30 per cent mandatory bid threshold, therefore, does not impose an obligation on Kustaa Poutiainen or Stephen Industries Inc Oy to launch a mandatory public takeover bid before Stephen Industries Inc Oy, Kustaa Poutiainen or persons acting in concert with them acquire or subscribe for additional shares in Bioretec or otherwise increase their voting rights in Bioretec.

As announced by the Company on 28 April 2026, the new shares issued in connection with the Offering have been registered with the Trade Register maintained by the Finnish Patent and Registration Office on 28 April 2026.

The total number of shares and votes in Bioretec is 1,341,785,963.

Bioretec has one series of shares in which each share carries one vote.

The total holding of Kustaa Poutiainen in Bioretec's shares and votes according to the notification:

Notified details of the resulting situation on the date on which the threshold was crossed or reached:

A: Shares and voting rights

Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity:

Contacts

Sarah van Hellenberg Hubar-Fisher, CEO, +31 6 1544 8736

Tuukka Paavola, CFO, +358 50 386 0013

Information about Bioretec

Bioretec is a globally operating Finnish medical device pioneer at the forefront of transforming orthopedic care with fully biodegradable implant technologies. The company has built unique competencies in the biological interface of active implants to enhance bone growth and accelerate fracture healing after orthopedic surgery. The products developed and manufactured by Bioretec are used worldwide in approximately 40 countries.

The company's latest innovation, the RemeOs™ product line, is based on a high-performance magnesium alloy and hybrid composite, introducing a new generation of strong absorbable materials for enhanced surgical outcomes. The RemeOs implants are absorbed and replaced by bone, which eliminates the need for removal surgery while facilitating fracture healing. The first RemeOs product market authorization was received in the U.S. in March 2023, and in Europe, the CE mark approval was received in January 2025.

Bioretec's Activa product line features fully bioabsorbable orthopedic implants made from a proprietary, self-reinforced PLGA both CE marked and FDA cleared for a wide range of indications in adult and pediatric patients.

Bioretec is shaping the future of orthopedic treatment with a focus on healing through absorption, paving the way for more effective and patient-friendly solutions.

To learn more about Bioretec, visit www.bioretec.com

Bioretec Ltd adjusts the terms and conditions of its stock option programs due to the completed rights issue

Bioretec Ltd  Company announcement  28 April 2026 at 13:40 p.m. EEST

Bioretec Ltd adjusts the terms and conditions of its stock option programs due to the completed rights issue

As previously announced, Bioretec Ltd ("Bioretec" or the "Company") has completed a rights issue (the "Offering"), in which a total of 1,286,801,534 new shares of the Company were subscribed for. The new shares subscribed for in the Offering have been registered with the trade register maintained by the Finnish Patent and Registration Office on 28 April 2026.

Under the terms and conditions of the Company's existing stock option programs, if Bioretec resolves, prior to the share subscriptions under each option program taking place, to issue new shares in accordance with the pre-emptive right of the shareholders, the holders of option rights shall be treated equally with the shareholders of the Company. Under the terms and conditions of the Company's existing stock option programs, the equal treatment shall be provided as determined by the Board of Directors, either by adjusting the number of shares to be issued or the subscription price of the shares to be issued or both. In order to ensure the equal treatment of the holders of option rights, the Board of Directors of the Company has resolved to adjust the subscription prices of the Company's new shares under the Company's existing stock option programs to account for the dilutive effect of the Offering.

The adjusted subscription prices are as follows:

Further enquiries

Sarah van Hellenberg Hubar-Fisher, CEO, +31 6 1544 8736

Tuukka Paavola, CFO, +358 50 386 0013

Certified adviser

Nordic Certified Adviser AB, +46 70 551 67 29

Information about Bioretec

Bioretec is a globally operating Finnish medical device pioneer at the forefront of transforming orthopedic care with fully biodegradable implant technologies. The company has built unique competencies in the biological interface of active implants to enhance bone growth and accelerate fracture healing after orthopedic surgery. The products developed and manufactured by Bioretec are used worldwide in approximately 40 countries.

The company's latest innovation, the RemeOs™ product line, is based on a high-performance magnesium alloy and hybrid composite, introducing a new generation of strong absorbable materials for enhanced surgical outcomes. The RemeOs implants are absorbed and replaced by bone, which eliminates the need for removal surgery while facilitating fracture healing. The first RemeOs product market authorization was received in the U.S. in March 2023, and in Europe, the CE mark approval was received in January 2025.

Bioretec's Activa product line features fully bioabsorbable orthopedic implants made from a proprietary, self-reinforced PLGA both CE marked and FDA cleared for a wide range of indications in adult and pediatric patients.

Bioretec is shaping the future of orthopedic treatment with a focus on healing through absorption, paving the way for more effective and patient-friendly solutions.

To learn more about Bioretec, visit www.bioretec.com

New shares of Bioretec Ltd registered with the trade register

Bioretec Ltd  Company announcement  28 April 2026 at 13:10 EEST

New shares of Bioretec Ltd registered with the trade register

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA, JAPAN, NEW ZEALAND, SINGAPORE, SOUTH AFRICA OR THE UNITED STATES, OR ANY OTHER JURISDICTION IN WHICH PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

As previously announced, Bioretec Ltd ("Bioretec" or the "Company") has completed its rights issue (the "Offering"). Bioretec announced the final results of the Offering on 24 April 2026.

A total of 1,286,801,534 new shares (the "New Shares") subscribed for in the Offering and 24,196,337 new shares issued to Stephen Industries Inc Oy as underwriting fee pursuant to the underwriting commitment (the "Fee Shares") have been registered with the trade register maintained by the Finnish Patent and Registration Office today on 28 April 2026. Following the registration of the New Shares and the Fee Shares, the total number of all shares and votes in Bioretec is 1,341,785,963. Bioretec does not hold its own shares.

The New Shares and the Fee Shares confer the same rights as Bioretec's other shares, after being delivered on the investor's book-entry account, on or about 29 April 2026. Trading in the New Shares and the Fee Shares is expected to commence on Nasdaq First North Growth Market Finland on or about 29 April 2026, provided that Nasdaq Helsinki Ltd accepts the Company's listing application.

Further enquiries

Sarah van Hellenberg Hubar-Fisher, CEO, +31 6 1544 8736

Tuukka Paavola, CFO, +358 50 386 0013

Certified adviser

Nordic Certified Adviser AB, +46 70 551 67 29

Information about Bioretec

Bioretec is a globally operating Finnish medical device pioneer at the forefront of transforming orthopedic care with fully biodegradable implant technologies. The company has built unique competencies in the biological interface of active implants to enhance bone growth and accelerate fracture healing after orthopedic surgery. The products developed and manufactured by Bioretec are used worldwide in approximately 40 countries.

The company's latest innovation, the RemeOs™ product line, is based on a high-performance magnesium alloy and hybrid composite, introducing a new generation of strong absorbable materials for enhanced surgical outcomes. The RemeOs implants are absorbed and replaced by bone, which eliminates the need for removal surgery while facilitating fracture healing. The first RemeOs product market authorization was received in the U.S. in March 2023, and in Europe, the CE mark approval was received in January 2025.

Bioretec's Activa product line features fully bioabsorbable orthopedic implants made from a proprietary, self-reinforced PLGA both CE marked and FDA cleared for a wide range of indications in adult and pediatric patients.

Bioretec is shaping the future of orthopedic treatment with a focus on healing through absorption, paving the way for more effective and patient-friendly solutions.

To learn more about Bioretec, visit www.bioretec.com

IMPORTANT INFORMATION

The information contained herein does not constitute an offer of securities for sale in the United States, nor may the securities of Bioretec Ltd (the "Company") be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended, and the rules and regulations thereunder. The Company does not intend to register any portion of the offering in the United States or to offer securities to the public in the United States.

The distribution of this release may be restricted by law and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restrictions. Neither this release nor the information contained herein is for publication, distribution or release, in whole or in part, directly or indirectly, in or into Australia, Canada, The Hong Kong Special Administrative Region of the People's Republic of China, Japan, New Zealand, Singapore, South Africa or the United States or any other jurisdiction in which publication or distribution would be unlawful (the "Restricted Countries"). Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. This release is not directed to, and is not intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction.

This release is not a prospectus within the meaning of the Regulation (EU) 2017/1129 of the European Parliament and of the Council (as amended, the "Prospectus Regulation"), has not been approved by any competent authority and as such, does not constitute or form part of and should not be construed as, an offer to sell, or the solicitation or invitation of any offer to buy, acquire or subscribe for, any securities or an inducement to enter into investment activity. This release neither describes nor purports to describe risks (direct or indirect) that may be associated with an investment in the Company's securities. In connection with the offering, the Company has prepared an exemption document in accordance with Article 1(4) (db) of the Prospectus Regulation. The exemption document has been prepared in accordance with the requirements of Annex IX to the Prospectus Regulation. The exemption document does not constitute a prospectus under the Prospectus Regulation and will neither be reviewed nor approved by the Finnish Financial Supervisory Authority.

The Company has not authorised any offer to the public of securities in the United Kingdom or in any Member State of the European Economic Area other than Finland. With respect to each Member State of the European Economic Area and which applies the Prospectus Regulation (each, a "Relevant Member State"), no action has been undertaken or will be undertaken to make an offer to the public of securities requiring publication of a prospectus in any Relevant Member State. As a result, the securities may only be offered in the Relevant Member States (a) to any legal entity, which fulfils the requirements of a qualified investor as defined in the Prospectus Regulation; or (b) in any other circumstances falling within Article 1(4) of the Prospectus Regulation. For the purposes of this paragraph, the expression "offer of securities to the public" means a communication to persons in any form and by any means, presenting sufficient information on the terms of the offer and the securities to be offered, so as to enable an investor to decide to purchase or subscribe for those securities.

This communication is directed only at persons who are outside the United Kingdom or persons who are qualified investors within the meaning of the Public Offers and Admissions to Trading Regulations 2024 and are also (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (ii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as "Relevant Persons"). Any investment activity to which this communication relates will only be available to, and will only be engaged with, Relevant Persons. Any person who is not a Relevant Person should not act or rely on this document or any of its contents.

No part of this release, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. The information contained in this release has not been independently verified. No representation, warranty or undertaking, expressed or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. The Company or any of its respective affiliates, advisors or representatives or any other person, shall have no liability whatsoever (in negligence or otherwise) for any loss however arising from any use of this release or its contents or otherwise arising in connection with this release. Each person must rely on their own examination and analysis of the Company, its subsidiaries, its securities and the offering, including the merits and risks involved.

The Sole Global Coordinator is acting exclusively for the Company and no one else in connection with the offering. It will not regard any other person as its respective client in relation to the offering. The Sole Global Coordinator will not be responsible to anyone other than the Company for providing the protections afforded to its respective clients nor for giving advice in relation to the offering or any transaction or arrangement referred to herein.

Notice to distributors

Solely for the purposes of the product governance requirements set forth in (a) Directive 2014/65/EU (as amended, "MiFID II"); (b) Articles 9 and 10 of the Commission Delegated Directive 2017/593/EU supplementing MiFID II; and (c) local implementation measures (together "MiFID II Product Governance Requirements"), and disclaiming any liability the "manufacturer" (due to MiFID II Product Governance Requirements) may otherwise have, regardless of whether the liability is based on infringement, contract or otherwise, the Subscription Rights and the New Shares have been subject to an approval process whereby each of them: (i) satisfies the target market requirements of end customers for retail investors, as well as the requirements for investors defined as professional clients and eligible counterparties, as separately defined in MiFID II (the "Target Market Assessment"); and (ii) are suitable for offering through all distribution channels, as permitted in MiFID II, but not in any case to Restricted Countries. Distributors should note that the value of Subscription Rights and New Shares may decline and investors may not be able to recover all or part of the amount they have invested; Subscription Rights and New Shares do not guarantee any profits or capital protection; and investments in Subscription Rights and New Shares are suitable only for investors who do not need guaranteed profits or capital protection, and who (alone or in conjunction with an appropriate financial or other advisor) are able to assess the benefits and risks of such investment and have sufficient funds from investments to cover any losses incurred. The target market assessment does not affect the sales restrictions based on agreement, law or other regulation in the Offering.

The Target Market Assessment should not be considered as (a) an assessment of appropriateness or suitability under MiFID II or (b) a recommendation to an investor or a group of investors to invest, acquire or take any other action regarding the Subscription Rights or the New Shares. Each distributor is responsible for its own Target Market Assessment of the Subscription Rights and the New Shares and for determining the appropriate distribution channels.

FORWARD-LOOKING STATEMENTS

Certain statements in this release are "forward-looking statements." Forward-looking statements include statements concerning plans, assumptions, projections, objectives, targets, goals, strategies, future events, future revenues or performance, capital expenditures, financing needs, plans or intentions relating to acquisitions, the Company's competitive strengths and weaknesses, plans or goals relating to financial position, future operations and development, its business strategy and the anticipated trends in the industry and the political and legal environment in which it operates and other information that is not historical information. In some instances, they can be identified by the use of forward-looking terminology, including the terms "believes," "intends," "may," "will" or "should" or, in each case, their negative or variations on comparable terminology.

Forward-looking statements in this release are based on assumptions. Forward-looking statements involve inherent risks, uncertainties and assumptions, both general and specific, and the risk exists that the predictions, forecasts, projections, plans and other forward-looking statements will not be achieved. Given these risks, uncertainties and assumptions, you are cautioned not to place undue reliance on such forward-looking statements. Any forward-looking statements contained herein speak only as at the date of this release. Save as required by law, the Company does not intend to, and does not assume any obligation to, update or correct any forward-looking statement contained in this release.

Bioretec Ltd - Manager's transactions - Paavola

Bioretec Oy Company Release 27 April 2026 at 4:00 p.m. EEST

Bioretec Oy - Managers' Transactions

____________________________________________

Person subject to the notification requirement

Name: Tuukka Paavola

Position: Chief Financial Officer

Issuer: Bioretec Oy

LEI: 7437008736AG7HY51K13

Notification type: INITIAL NOTIFICATION

Reference number: 153482/4/4

____________________________________________

Transaction date: 2026-04-24

Venue: FIRST NORTH GROWTH MARKET FINLAND (FSME)

Instrument type: SHARE

ISIN: FI4000480454

Nature of transaction: SUBSCRIPTION

Transaction details

(1): Volume: 2000000 Unit price: 0.01 EUR

Aggregated transactions (1):

Volume: 2000000 Volume weighted average price: 0.01 EUR

Further enquiries

Tuukka Paavola, CFO, +358 50 386 0013

Certified adviser

Nordic Certified Adviser AB, +46 70 551 67 29

Information about Bioretec

Bioretec is a globally operating Finnish medical device pioneer at the forefront of transforming orthopedic care with fully biodegradable implant technologies. The company has built unique competencies in the biological interface of active implants to enhance bone growth and accelerate fracture healing after orthopedic surgery. The products developed and manufactured by Bioretec are used worldwide in approximately 40 countries.

The company's latest innovation, the RemeOs™ product line, is based on a high-performance magnesium alloy and hybrid composite, introducing a new generation of strong absorbable materials for enhanced surgical outcomes. The RemeOs implants are absorbed and replaced by bone, which eliminates the need for removal surgery while facilitating fracture healing. The first RemeOs product market authorization was received in the U.S. in March 2023, and in Europe, the CE mark approval was received in January 2025.

Bioretec's Activa product line features fully bioabsorbable orthopedic implants made from a proprietary, self-reinforced PLGA both CE marked and FDA cleared for a wide range of indications in adult and pediatric patients.

Bioretec is shaping the future of orthopedic treatment with a focus on healing through absorption, paving the way for more effective and patient-friendly solutions.

To learn more about Bioretec, visit www.bioretec.com